Over 33 million customers have used Amazon payments to make a purchase

Amazon recently announced that over 33 million customers have used Amazon Payments to make a purchase – a figure that’s up 10 million from the 23 million that was stated in April of last year.

Pay with Amazon volume has almost doubled in 2016, with more than 50% of pay with Amazon customers being prime members.

The demographic of Amazon Payment consumers are spread over 170 countries. 32% of the transactions using Pay with Amazon were made on a mobile device, showering a staggering rise in the use of mobile and digital payments.

The average Pay with Amazon purchase was $80 in 2016, down from $84 in 2015. Peak volumes for sales were on November 28 2016 where customers were enjoying Cyber Monday offers.

“As we have introduced new experiences with merchants, we have seen a significant increase in the number of customers using the information from their Amazon account to make purchases on merchant websites,” said Patrick Gauthier, Vice president, Amazon Payments.

Consumers’ spending habits are changing. The traditional brick and mortar style of shopping is significantly decreasing, and there are constantly new innovations being created around optimising the end to end consumer experience.

“Amazon Payments brings the simplicity and familiarity of Amazon’s buying experience to our merchant customers, making it easy for millions of Amazon customers around the world to pay using the information already stored in their Amazon account.”

Fintech still needs to do more to better serve the 8m UK consumers struggling with the emergence of a cashless society, despite the recent success of the fintech boom according to a survey and some market participants.

A senior payment professional has revealed that Open Banking, GDPR and 3D Secure 2.0 dominate client conversations while Strong Customer Authentication (SCA) is not a priority despite the deadline for compliance fast approaching.

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A senior payment professional has revealed that Open Banking, GDPR and 3D Secure 2.0 dominate client conversations while Strong Customer Authentication (SCA) is not a priority despite the deadline for compliance fast approaching.